Companies mentioned in this article include Empire Global Corp. (OTCQB:EMGL).

Article Excerpt:

Sometimes wheels turn slow or deals do not come to fruition. That’s just the nature of the beast with mergers and acquisitions. A point-in-case is the repeated offers of Pfizer, Inc. to try and buy AstraZeneca in the recent weeks, first for $106 billion and then for about $120 billion. AstraZeneca, claiming the price undervalued the company and a merger brought forth risks that weren’t in the best interest of AZN shareholders, rebuffed both offers.

Although on a much smaller scale, developmental firm Empire Global Corp. (OTCQB:EMGL) had a deal recently pulled out from under it as the Ontario, Canada-based upstart tries to build a portfolio of assets through acquisition strategies. Empire was effectively a shell company as defined by SEC Rule 12b-2 until it penned a lease assignment agreement in January to lease with the option to buy the El Sabanero Beach Hotel and Casino situated on Flamingo Beach, in Santa Cruz, Guanacaste, Costa Rica. The deal called for Empire to pay $15,000 per month in rent with an option to purchase the property – which TripAdvisor.com shows a 4/5 star rating – for $5 million if the option was exercised between May 1, 2014 and April 30, 2015.

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